The US Treasury Secretary has reportedly contacted leading crypto industry players to discuss the potential impact of the stablecoin sector on the demand for US government bonds in the coming years.

Treasury Secretary Bets On The Crypto Industry

On Wednesday, the Financial Times (FT) reported that the US Treasury Secretary, Scott Bessent, is “betting” on the crypto industry to become a key buyer of US Treasuries in the coming years.

Following the enactment of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act in July, digital assets pegged to the US dollar are required to be backed on a one-to-one basis by US dollars or Treasury bills.

Sources familiar with the discussions told the news media outlet that Secretary Bessent has signaled to Wall Street th

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